Gene Prediction Tools Market - By Component (Software, Service), Application (Drug Discovery & Designing, Diagnostics), End-user (Research & Academic Institutes, Biotechnology & Pharmaceutical Companies, Hospital & Clinics), Global Forecast (2023-2032)
Published Date: July - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationGene Prediction Tools Market - By Component (Software, Service), Application (Drug Discovery & Designing, Diagnostics), End-user (Research & Academic Institutes, Biotechnology & Pharmaceutical Companies, Hospital & Clinics), Global Forecast (2023-2032)
Gene Prediction Tools Market Size
Gene Prediction Market is valued to be USD 104 million in 2022 and is projected to grow at CAGR of 18% and reach USD 541.2 million by the end of 2032. The factors such as rising demand for personalized medicines, increasing advancements in genomic research, increasing adoption of bioinformatics, and growing applications of genomics are surging the growth of the global gene prediction tools.
Gene prediction tools are computational algorithms and software applications designed to recognise and predict the position and structure of genes inside a DNA sequence. They are also known as gene finding tools or gene annotation tools. These tools are widely used in genomics and bioinformatics to assist researchers in understanding the genetic information contained within an organism's genome.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Gene Prediction Tools Market Size in 2022 | USD 104.0 Million |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 18% |
| 2032 Value Projection | USD 541.2 Million |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 121 |
| Tables, Charts & Figures | 135 |
| Segments covered | Component, Application, and Region |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
COVID-19 Impact
Due to the pandemic, there has been a significant increase in genetic research on the SARS-CoV-2 virus, which causes COVID-19. Gene prediction tools played a crucial role in identifying viral genes, mutations, and functional components. Researchers utilized these tools not only to identify potential vaccination candidates but also to assess their effectiveness and safety. As a result, mRNA vaccines and viral vector vaccines were developed with the aid of these tools.
However, as the pandemic unfolded, resource reallocation, lockdowns, and disruptions in research activities led to the postponement or cancellation of other research initiatives unrelated to COVID-19. This, in turn, resulted in a slowdown in the adoption and utilization of gene prediction tools in non-COVID-19 research. Clinical studies that relied on gene prediction algorithms as part of their research methods were particularly affected. Issues such as delayed patient recruitment, sample collection, and data analysis ensued, causing setbacks in drug development and therapeutic research.
Gene Prediction Tools Market Driving Factors
Several factors including rising demand for personalized medicines, increasing advancements in genomic research, increasing adoption of bioinformatics and genomic services, and growing applications of genomics are majorly driving the market demand. The rise of precision medicine emphasizes the importance of identification of specific genes and genetic markers associated with diseases. Gene prediction tools aid in identification of disease-associated genetic variants and enable personalized treatment strategies. In addition to this, the pharmaceutical and biotechnology companies rely on genomics for drug discovery services and development. These tools help in identifying drug targets, disease mechanisms, and predicts drug responses.
Gene Prediction Tools Market Restraining Factors
The gene prediction market faces challenges due to the complexity and variability of data. Genomes exhibit significant variation in terms of size, structure, and complexity among different species. Additionally, the presence of alternative splicing, which generates numerous transcript variants from a single gene, further complicates gene prediction. Accurately predicting splice isoforms is particularly challenging in this context.
Gene Prediction Tools Market Analysis
When it comes to gene prediction tools, there are two main typessoftware and services. In 2022, the software side ruled the market with a whopping 64.5% share. Why is software so popular? It's all about flexibility. With gene prediction software, you can tweak settings, algorithms, and parameters to match your specific needs. This is a big deal because different organisms and research questions require different approaches. Plus, software keeps your data and analysis private and secure. And let's not forget the cost factor. Software usually comes with a one-time or periodic licensing fee, making it a budget-friendly option for academic institutions and research labs that are counting their pennies.
Based on application, the gene prediction tools market is classified into drug discovery & designing, diagnostics, and other applications. Drug discovery & designing segment accounted for highest business share in 2022 and is projected to witness growth at CAGR of 18.5%. Gene prediction tools facilitates the identification of potential drug targets. Genes involved in disease pathways or encoding proteins with essential functions in disease development can be targeted for drug development efforts. These tools facilitate researchers to uncover the molecular mechanisms underlying diseases. Researchers gain insights into potential therapeutic intervention points by identifying disease-associated genes and their functions.
Researchers and scientists use gene prediction tools to study the human genome and understand the genetic basis of diseases. These tools are particularly popular in research institutes and universities, where they are used to analyze genetic data and identify potential drug targets. In 2022, the market size for these tools in research institutions was valued at around 48.7 million U.S. dollars. Biotechnology and pharmaceutical companies are also significant users of gene prediction tools. As the demand for personalized medicine grows, these companies increasingly rely on gene prediction tools to develop new drugs and treatments tailored to an individual's genetic profile.
In 2022, North America ruled the gene prediction tool market, holding a whopping 48.4% of the business. Why? Because the US and Canada are hotbeds for cutting-edge research and biotech companies. They're leading the charge in genomics, which has made it essential to have quick and accurate gene prediction tools. On top of that, North America's biotech industry is booming, especially in the areas of drug discovery and biomanufacturing. And since biotech and drug companies depend heavily on gene prediction tools for their work, the demand for these tools is only going to keep growing.
Gene Prediction Tools Market Share
The key players in the gene prediction tools market are
- AzoLifeScience
- Softberry Technologies
- DNASTAR
- Qiagen NV
- Illumina, Inc.
- BGI Genomics
- Genscript
- Exiqon
- Geneious
- Thermo Fisher Scientific, Inc.
These companies are implementing several strategies such as collaborations, acquisitions, partnerships, mergers, and product launches to maintain a competitive edge in the industry.
Gene Prediction Tools Industry News
- In June 2023, Illumina, Inc. disclosed the AI software for predicting disease-causing genetic mutations in patients. Through this, the company has enhanced its product portfolio and revenue growth.
- In November 2022, DNASTAR launched Lasergene 17.4 software that focuses on variant analysis for multiple sequence alignments. This strategic initiative helped the company to boost their revenue and strengthen its product portfolio.
Gene prediction tools market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments
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Market Size, By Component
- Software
- Service
Market Size, By Application
- Drug discovery & designing
- Diagnostics
- Other applications
Market Size, By End-user
- Research & academic institutes
- Biotechnology companies
- Hospitals & clinics
- Diagnostic laboratories
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Switzerland
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
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